Flood buyback auctions beat sales targets

MORE than 60 people attended the final flood buyback auction of the year in Lismore last week, with sale prices ranging from $7,000 to $25,500.

Of the 130 buyback homes offered for sale in the Northern Rivers since December last year, the October target of selling 42 houses before Christmas was exceeded by three.

The PRD Lismore auction of 10 homes at the Lismore Workers Sports Club attracted 30 registered bidders, including four phone bidders.

The total value of the homes sold was $140,300.

Eleven buyback auctions have been held to date, generating strong interest in the sales, including one house selling for $1 and the most expensive house fetching $200,000.

All homeowners now have until the end of 2026 to relocate their properties to flood-free land.

Every property is unique, and homeowners can expect relocation costs of more than $100,000.

Minister for Recovery Janelle Saffin said the auctions had proved popular.

“Seeing young families and first-home buyers walk away with keys to a safer future is incredibly uplifting,” Saffin said.

“These homes are part of our shared history, and the fact they can now be repurposed and relocated to flood-free land gives our community real hope.

“This program has always been about people, not price, giving these houses a second life and delivering safer housing opportunities for our community.”

The $880 million Resilient Homes Program is jointly funded by the NSW and Australian governments.

The auction program will pause over Christmas and resume in early 2026.

For information on upcoming auctions, visit walmurray.com.au and prd.com.au